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Vedder Price is pleased to announce the completion of a suite of mergers that were part of a strategic initiative to restructure the closed-end fund product line of funds managed by Tortoise Capital.&nbsp;

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On December 20, 2024, the mergers of Tortoise Pipeline &amp; Energy Fund, Inc. (NYSE: TTP), Tortoise Energy Independence Fund, Inc. (NYSE: NDP) and Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) with and into a wholly owned subsidiary of Tortoise Power and Energy Infrastructure Fund, a series of Tortoise Capital Series Trust and a newly formed exchange-traded fund, were completed. TTP, NDP and TPZ are closed-end funds that trade on the NYSE. As a result of the merger, each merged fund was converted into an actively managed exchange-traded fund.&nbsp; The combined fund will continue to trade on the NYSE under the ticker TPZ as an exchange-traded fund.

On December 23, 2024, the merger of Tortoise Midstream Energy Fund, Inc. (NYSE: NTG) with and into a wholly owned subsidiary of Tortoise Energy Infrastructure Corporation (NYSE: TYG) was completed. The combined fund will continue to trade on the NYSE under the ticker TYG.

“We are pleased to have guided our long-standing client through all aspects of this important strategic initiative,” said Vedder Price Shareholder Deborah Bielicke Eades.

Tortoise’s announcements of the completed mergers can be found <a href="https://tortoiseadvisors.com/news/tortoise-capital-completes-merger-of-tortoise-power-and-energy-infrastructure-fund-inc-nyse-tpz-tortoise-pipeline-energy-fund-inc-nyse-ttp-and-tortoise-energy-independence-fund/" target="_blank" rel="noopener noreferrer">here</a>&nbsp;and <a href="https://tortoiseadvisors.com/news/tortoise-capital-completes-merger-of-tortoise-energy-infrastructure-corp-nyse-tyg-and-tortoise-midstream-energy-fund-inc-nyse-ntg/" target="_blank" rel="noopener noreferrer">here</a>.

The Vedder Price team was led by Investment Services Group Shareholders <a href="/people/deborah-bielicke-eades/">Deborah Bielicke Eades</a>, <a href="/people/jacob-tiedt/">Jacob Tiedt</a> and <a href="/people/cody-j-vitello/">Cody Vitello</a>.  Additional team members include <a href="/people/adam-s-goldman/">Adam Goldman</a>, <a href="/people/christopher-g-barrett/">Chris Barrett</a>, <a href="/people/nathaniel-segal/">Nathaniel Segal</a>, <a href="/people/christina-v-west/">Christina West</a>, Liz Baxter, <a href="/people/devin-eager/">Devin Eager</a>, Dan Sherlock and <a href="/people/andrew-falevich/">Andrew Falevich</a>. 

Vedder Price Represents Tortoise Funds in Strategic Initiative

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